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Grandchild Flexible Investment Plan

Tax-free grandchild investment

Tax free investing for your grandkids

With Grandchild Flexible Plan you make tax-free savings and investments for your grandchild to give them something to help them live their future dreams. You invest for a maximum 18 years but flexibility is built in so there is the option for your grandchild to take the money out earlier if they need to. The table below provides a brief summary of the plan. For more information on Grandchild Flexible Plan please visit the in detail tab.

Invest up to £25 per month tax-free for a grandchild under 16.
i Your Grandchild Flexible Plan i Things you should consider
  • Help ensure your grandchild gets off to a good start in life by investing from £15 to £25 per month and using their tax-free savings allowance for a maximum of 18 years.
  • Give your money the long term growth potential of the UK stock market.
  • Your money will be invested in our UK Tracker Fund which is designed to track the UK stock market which features leading UK companies like Tesco, BSkyB and BT.
  • Flexibility is built in, allowing the plan to be cashed in early.
  • A small amount of life cover for the child is automatically included as a condition of the tax benefits.
  • The plan is the property of the grandchild and not the parents or the grandparents.
  • Stock market investments can go down as well as up and your grandchild could get back less than you have paid in.
  • Tax-free means the fund the plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).
  • Tax treatment depends on their individual circumstances and tax law may change in future.
  • If the plan value is accessed before 10 years the grandchild may have a tax charge to pay and there will be a £50 deduction from the cash-in value.
  • The cost of life cover is included as a small part of the plan’s charges.
  • Take out a Grandchild Flexible Plan for a grandchild currently aged under 16 and who is a UK resident.

Find out more

 

No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.

Taking out an investment plan with us is straightforward

Thank you for choosing to apply. All you have to do is follow three simple steps:

  1. Before you apply, please ensure that you have read and understood the information provided on the Grandchild Flexible Plan.
  2. Then download and carefully read the Key Features.
  3. Finally complete the online application, specifying the date on which you wish payments to start and we'll begin processing the Grandchild Flexible Plan immediately.

Apply now

Before you continue, you should ensure you have read and understood the Key Features document. This is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully. If you do not understand any point please ask for further information.

Call us on 0333 323 5433 if you have any further questions about this plan or how to apply for a Grandchild Flexible Plan. The information provided relates to Scottish Friendly only.

Lines are open 8.30am-5.30pm, Monday to Friday.

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Scottish Friendly is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of IMA. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.